There is no charge to transfer in benefits from other schemes
If you find investments difficult, you can let the Trustees make decisions about investment strategy under The Cheviot Lifeplan on your behalf. You will be automatically invested in the Lifeplan if you have been auto enrolled.
The Cheviot Lifeplan invests your fund in the right investment option for you at different stages of your life.
Your Cheviot pension allows you to build up a fund for your retirement. You can choose how you use that fund.
Each year, Cheviot will send you estimates of your likely fund value and pension at retirement on your Benefit Statement.
Look at your Online Account to see your most recent estimate or call us and we will send you another copy.
You can also use the Compare Your Options tool on our website to see the impact of increasing your contributions, changing your investment options or your retirement date.
About six months before your Normal Retirement Date, Cheviot will write to you with an estimate of your benefits.
The actual amount available will not be known until your account is disinvested just before you retire.
You can currently take part of your savings tax free.
You have three main options for the remainder of your fund.
You can choose to buy an income for life, or take your whole fund as cash (this will usually involve paying some tax) or take your benefits over a period of years. You can split your fund between these options
The information on this page is provided in good faith but is not legal or financial advice or binding on the Trustee. The trust deed and rules will override in the event of any inconsistency.